Bearing, a mechanical component used between two parts for smoother rotational or linear movement, reduces friction and enhanced performance consuming lesser energy. Bearings are hugely used in various, rapidly growing sectors such as automotive, electronics, aerospace, and construction, among others. Extensive uses leading to creating a huge demand is a key driving force behind the growth of the market.
According to an eminent research firm, Market Research Future (MRFR), the global Bearing market is booming and expected to gain more prominence over the forecast period. In its recently published, the global bearing market would demonstrate a spectacular growth by 2022 with a striking CAGR throughout the projected period (2016 -2022). Rapid industrialization worldwide is another major factor acting as a tailwind for the market growth.
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Moreover, the growing construction industry, the demand for new nuclear power stations, and the increasing demand for Bearings across the O&G sectors attribute to the growth of the market. Additionally, the rising industrialization in emerging economies along with the proliferation of Industrial Internet of Things (IIoT) has prompted the growth & demand for Bearings. With the increased demand for the process, safety is fostering the market growth of bearings.
Adversely, the recession or downturn in the mining industry, especially in growing economies of the Asia Pacific and Africa, is expected to pose challenges to the growth of the Bearing market during the forecast period. Manufacturers of bearings are sensitive towards the environment as well. They increasingly use sustainable raw materials and manufacturing techniques.
For instance; on June 19, 2019, one of the UK based bearing manufacturer, Allen Brothers Ltd. launched its new plain bearing range made from recycled plastics to ensure an eco-friendlier product, delivering enhanced performance. The new range made using 100% recycled plastics will help to reduce the long-term impact of plastics and un-recyclable materials on the environment.
Key Players
The major players in the Global Industrial Hand Gloves Market include Towa Corporation (Japan), Top Glove Corporation Bhd (Malaysia), Shamrock Manufacturing Company, Inc. (US), Globus (Shetland) Ltd (UK), Rubberex (Malaysia), Semperit AG holding (Austria), Ansell Ltd (Australia), Honeywell International Inc. (US), 3M (US) and Kossan Rubber Industries Bhd (Malaysia).
Scope of the Report
This study provides an overview of the global industrial hand gloves market, tracking four market segments across four geographic regions. The report studies key players, providing a six-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, and the Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global industrial hand gloves market by material, product, application and region.
By Material: Natural Rubber, Leather Gloves, Polyethylene Gloves, Nitrile Gloves, Neoprene Gloves, Metal Mesh Gloves
By Product: Reusable Gloves, Disposable Gloves
By Application: Healthcare Industry, Chemical Industry, Automotive Industry, Food & Beverage Industry, Construction Industry
By Regions: North America, Asia-Pacific, Europe, Rest of the World
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